Palantir Technologies Inc. $PLTR Shares Acquired by BridgePort Financial Solutions LLC

Key Points

• BridgePort Financial Solutions LLC increased its holdings in Palantir Technologies by 221.7% during the second quarter, totaling $1,089,000 after acquiring 5,507 additional shares.
• Insider sales included Alexander C. Karp selling 222,878 shares for approximately $33.74 million, reflecting a 3.35% decrease in his total ownership.
• Palantir Technologies reported earnings of $0.16 per share for the previous quarter, surpassing analyst expectations of $0.14 and achieving a revenue of $1 billion, up 48% year-over-year.

BridgePort Financial Solutions LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 221.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,991 shares of the company's stock after purchasing an additional 5,507 shares during the period. BridgePort Financial Solutions LLC's holdings in Palantir Technologies were worth $1,089,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLTR. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies during the first quarter worth $25,000. Signature Resources Capital Management LLC acquired a new position in shares of Palantir Technologies during the second quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies during the first quarter worth $27,000. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of Palantir Technologies during the second quarter worth $31,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $973,650,893.46. This represents a 3.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the completion of the transaction, the insider owned 592 shares of the company's stock, valued at $89,611.04. This represents a 99.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,591,085 shares of company stock worth $244,676,722 over the last ninety days. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $173.07 on Friday. The company has a 50-day simple moving average of $168.90 and a 200-day simple moving average of $136.98. The firm has a market capitalization of $410.58 billion, a P/E ratio of 576.92, a P/E/G ratio of 9.66 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $38.78 and a one year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on PLTR. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a report on Saturday, September 27th. Citigroup reaffirmed a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $140.22.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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